International Paper signs agreement with Xiamen

International Paper has entered into an agreement to sell its corrugated packaging business in Communist china and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise

International Paper has entered into an agreement to sell its corrugated packaging business in Red china and Southeast Asia to Xiamen Bridge Hex ing Equity Investment Partnership En terprise. International Newspaper's corrugat ed packaging concern in Asia has 18
plants and a workforce of judge ly 3,000 employees. Under terms of the transaction, International Newspaper will re ceive a total of approximately RMB 1 bil king of beasts (approximately US$ 150 one thousand thousand at the current exchange rate), subject to post-closing adjustments and other
payments, including the buyer's assumption of the liability for loans of approximately U.s.a.$50 one thousand thousand to be paid to International Newspaper within 6 months of closing of the sale. The transaction is expected to exist completed in the next few months, subject to satisfaction of
closing conditions, including obtaining required governmental approvals.

The transaction is expected to exist completed in the side by side few months, subject field to satisfaction of closing conditions, including obtaining required governmental approvals. International Paper is a global leader in packaging and newspaper with manufacturing operations in Northward America, Europe, Latin America, Russian federation, Asia and North Africa. Its businesses include industrial and consumer packaging along with uncoated papers and lurid. Headquartered in Memphis, Tennessee, the visitor employs approximately 55,000 people and is strategically located in more than than 24 countries serving customers worldwide. The company's net sales for 2015 were U.s.$ 22 billion.

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